Liquidator

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Liquidator

Person appointed by an unsecured creditor in the United Kingdom to oversee the sale of an insolvent firm's assets and the repayment of its debts.

Liquidator

In bankruptcy, a person placed in charge of a company sometimes by creditors or shareholders, but often by court order who must oversee the winding down of operations and sell all assets. As the liquidator sells off assets, he/she uses the proceeds to pay creditors, starting with secured creditors, by giving them proceeds from sold collateral, followed by unsecured creditors. If there is any money remaining, the liquidator distributes this to the shareholders, if any, or the owner. The liquidator is paid a fee for these services. See also: Receivership.

liquidator

see LIQUIDATION, INSOLVENCY.
References in periodicals archive ?
In 2014, another area of focus for ASIC is the unregulated, pre-insolvency advice market including the potential impact on registered liquidators' independence, especially through referrals to the registered liquidators by pre insolvency advisers.
Holmes examine a diamond ring from Jewelry Liquidators to mark their official engagement today.
The provisional liquidators have issued a notice asking ARM investors to submit an identification request form and proof of their investment by February 13.
Lighting Liquidators offers a wide selection in traditional to contemporary styles.
The Liquidators have been informed that the audit will be completed in early August 2015 and the second interim distribution is expected to be made shortly after.
convene meetings of creditors so that they can consider whether to replace the liquidators, having been fully informed of the relevant matters.
We're especially excited about The Visualizer feature in our new app," said Tom Sullivan, founder of Lumber Liquidators.
Following the commencement of the liquidation the Liquidators approved an interim distribution of 91.
ASIC will cancel the registration of liquidator Avitus Thomas (Tom) Fernandez following a successful application to the disciplinary body, the Companies Auditors and Liquidators Disciplinary Board (CALDB).
Griffiths, the Company's Chief Executive Officer, commented, "Richard has been a valued adviser and friend to Lumber Liquidators since he joined the Board more than six and a half years ago.
The online gallery showcases home and flooring makeovers through firsthand submissions from Lumber Liquidators customers.
their appointment, on 12 December 2014 the Liquidators paid a first